All institutions enrolling students who receive federal funding for financial aid must "observe" this day in "some way" by "emphasizing the constitution" on the actual day.

There is no mandate for "how" we are to "emphasize" the constitution.

Multnomah University disperses financial aid from the federal government to our students, so our way to "emphasize" is to pray for our country that was founded on the principals laid out in the constitution.

Here's a brief quote from Dr. Dan Lockwood, President:

We’ve done different things: a panel discussion, a lecture by Dr. Scalberg, etc. . The last two years we have simply asked students who can to gather around the flagpole and pray for our nation...